Categorized Under: Energy
ICF International's white paper discusses expectations for U.S. market trends and impacts related to Congress's extension of the federal production tax credit (PTC) as part of its last-minute “fiscal cliff” bill.
The PTC will now be available to qualifying renewable projects that begin construction by January 1, 2014. With this extension, the United States could see nearly 10 GW of new wind capacity commence operations through the end of 2014—this represents 5 GW more than without the extension. Despite the extension of the PTC, development in 2013–2014 will remain lower than the roughly 12 GW of U.S. wind that came online in 2012.
Senior AssociateICF International
Patrick Costello is an expert in renewable energy market analysis. Major project work completed includes renewable energy asset valuation, green premium forward price forecasting, policy analysis, technology analysis, and market risk assessment. Mr. Costello regularly models renewable energy supply and demand in a variety of U.S. regions as part of a larger exercise in projecting renewable energy certificate (REC) and solar renewable energy certificate (SREC) prices and evaluating long-term renewable generation development under different market scenarios. He authors the Renewable Energy chapter in ICF’s quarterly Integrated Energy Outlook, and he has coauthored numerous reports that explore market dynamics associated with renewable and conventional energy asset investment strategy.
Prior to joining ICF, Mr. Costello served as a development associate at BP Alternative Energy, Wind Power Americas, where he provided market research and geographic siting analysis in support of BP’s East Coast and Midwest wind development.
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